Former IMF chief economist backs 'people's QE'

October 7, 2015 9:12 PM

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LONDON Oct 7 "People's QE" could be an option to help economies fight future crises, Olivier Blanchard, who has just stepped down as chief economist of the International Monetary Fund, said on Wednesday.

Quantitative easing, where central banks buy assets such as government bonds from banks in exchange for newly created money, has been used in the euro zone, the United States and Britain to increase financial market liquidity and stimulate growth.